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Mentha oil futures drop 2.01 pc on ample stocks

Press Trust of India  |  New Delhi 

futures fell 2.01 per cent to Rs 1,306.40 per kg today as speculators trimmed their positions, driven by subdued demand from consuming industries at the spot market.

Besides, ample stocks position on higher supplies from producing belt of Chandausi in fuelled the downtrend.

At the Multi Commodity Exchange, for delivery in the current month contract declined by Rs 26.80, or 2.01 per cent, to Rs 1,306.40 per kg in a business turnover of 110 lots.

Likewise, the for delivery in June contract traded lower by Rs 22.50, or 1.89 per cent, at Rs 1,165.50 per kg in 148 lots.

Analysts said offloading of positions by participants owing to slackened demand from consuming industries at the spot market against ample stocks position on increased supplies from Chandausi in led to the decline in in futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 11:55 IST